Martingale Asset Management L P boosted its holdings in Intuit Inc. (NASDAQ:INTU) by 0.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 304,289 shares of the software maker’s stock after buying an additional 2,301 shares during the quarter. Intuit makes up about 0.9% of Martingale Asset Management L P’s holdings, making the stock its 6th largest position. Martingale Asset Management L P’s holdings in Intuit were worth $79,545,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of INTU. Bronfman E.L. Rothschild L.P. boosted its stake in Intuit by 4.6% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 3,028 shares of the software maker’s stock valued at $596,000 after acquiring an additional 132 shares in the last quarter. Strs Ohio boosted its stake in Intuit by 0.5% in the first quarter. Strs Ohio now owns 379,414 shares of the software maker’s stock valued at $99,182,000 after acquiring an additional 1,790 shares in the last quarter. Cooper Haims Advisors LLC acquired a new position in Intuit in the first quarter valued at $2,118,000. Parkside Financial Bank & Trust boosted its stake in Intuit by 16.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 394 shares of the software maker’s stock valued at $77,000 after acquiring an additional 56 shares in the last quarter. Finally, Virtu Financial LLC boosted its stake in Intuit by 82.8% in the first quarter. Virtu Financial LLC now owns 4,460 shares of the software maker’s stock valued at $1,166,000 after acquiring an additional 2,020 shares in the last quarter. 87.45% of the stock is currently owned by hedge funds and other institutional investors.
Shares of INTU opened at $241.31 on Friday. Intuit Inc. has a fifty-two week low of $182.61 and a fifty-two week high of $272.14. The stock has a market cap of $63.75 billion, a PE ratio of 53.27, a price-to-earnings-growth ratio of 2.87 and a beta of 1.14. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.32 and a quick ratio of 1.32.
Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, May 23rd. The software maker reported $5.55 earnings per share for the quarter, topping the consensus estimate of $5.12 by $0.43. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.23 billion. Intuit had a net margin of 22.89% and a return on equity of 53.70%. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.82 earnings per share. On average, sell-side analysts anticipate that Intuit Inc. will post 5.3 EPS for the current year.
INTU has been the subject of several research analyst reports. Guggenheim upped their price objective on shares of Intuit from $260.00 to $310.00 in a research note on Thursday, April 11th. Deutsche Bank upped their price objective on shares of Intuit from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, April 12th. BidaskClub downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Goldman Sachs Group reiterated a “neutral” rating and set a $212.00 target price on shares of Intuit in a research note on Friday, February 1st. Finally, Zacks Investment Research downgraded shares of Intuit from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 27th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $252.25.
In related news, EVP Laura A. Fennell sold 67,488 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $251.43, for a total value of $16,968,507.84. Following the completion of the sale, the executive vice president now owns 95,102 shares in the company, valued at $23,911,495.86. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP James Alexander Chriss sold 923 shares of the firm’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $247.10, for a total transaction of $228,073.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,609 shares of company stock valued at $22,757,853. 4.60% of the stock is owned by insiders.
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
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